The medium-term agenda in Brazil and the future of Petrobrás

Vol. 18 No. 3 (1998)

Jul-Sep / 1998
Published July 1, 1998
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Rodrigues, Adriano Pires, and Fabio Giambiagi. 1998. “The Medium-Term Agenda in Brazil and the Future of Petrobrás”. Brazilian Journal of Political Economy 18 (3):473-95.

The medium-term agenda in Brazil and the future of Petrobrás

Adriano Pires Rodrigues
Economista, Rio de Janeiro/RJ, Brasil.
Fabio Giambiagi
Economista do Banco Nacional de Desenvolvimento Econômico e Social – BNDES, Rio de Janeiro/ RJ, Brasil.
Brazilian Journal of Political Economy, Vol. 18 No. 3 (1998), Jul-Sep / 1998, Pages 473-495


This paper discusses the possible privatization of Petrobrás. It is argued that, despite the economic reasons that recommend its sale, probably the prerequisites for it will not exist in the short term. The purpose of the paper is to contribute to the discussion of this proposal, through the organization of the arguments related to the privatization - the “YPF model”. The alternative is the “PDVSA model”, opening up the oil sector, with Petrobrás remaining a State-owned company. Finally, some issues for reflection are suggested and some data associated with the company’s actual value are presented.

JEL Classification : L33; L71.

Keywords: Privatization Petrobrás industrial policy